South Africa’s fastest-growing discount retailer has a new CEO

Boxer has announced that its CEO, Marek Masojada, will retire at the end of the retailer’s current financial year after 33 years with the company.

Masojada has been at Boxer’s helm since 2024, having overseen the retailer’s unbundling from Pick n Pay and its Initial Public Offering on the JSE. He has been with the company since 1993.

He is set to be succeeded by  Justin Galloway, who has been appointed CEO-designate with immediate effect. He will take over as CEO on 1 March 2027.

Galloway has been at Boxer since 2012 and has been a member of the group executive since 2020.

Boxer announced these changes on Monday, 12 October, the same day it released its results for the first half of the 2027 financial year.

The retailer explained that Masojada and Galloway will work closely together over the next five months to ensure a smooth transition.

It said Masojada’s retirement forms part of the planned succession process established by Boxer at the time of its JSE listing in November 2024. 

Masojada first joined Boxer in 1993, when the business had five stores and an annual turnover of R120 million. 

Now, three decades later, Boxer boasts a 600-store network and is considered South Africa’s leading discount retailer.

Masojada spent 25 years as Boxer’s head of finance before being appointed Managing Executive in 2019 and CEO in 2024. 

“I am incredibly proud of how Boxer has grown, and I will retire knowing that the business is in a strong position,” he said. 

“I have had the privilege of working with many talented people over the years who remain dedicated to serving as the People’s Champion.” 

“Having worked alongside Justin for many years, I know Boxer will continue its momentum.”

Galloway is a chartered accountant who joined Boxer in 2012. He spent his early years in the finance function before moving into store operations. 

There, he served as the general manager of the Punch division, then assumed leadership of the company’s supply chain function.

Galloway played a critical role in developing Boxer’s discount format between 2014 and 2020. Prior to becoming CEO-designate, he served as Boxer’s supply chain executive.

“It is a privilege to be able to lead a business valued by so many South Africans,” Galloway said. 

“Over the past 14 years, I have had the opportunity to work across different areas of Boxer and gain a deep understanding of our business, our customers and our people.” 

“I look forward to building on the strong foundations that have been established under Marek’s leadership with the same commitment that has guided me throughout my career.”